autobiz launches in Brazil
Brasil has a high potential for autobiz. Collection of data has been initiated on since April 2011 and autobiz car valuation is now being launched to the Brasilian used car market. In a country currently facing a crisis, the demand for automobiles is now centred on recent used cars.
autobiz is extending its coverage to significant world markets to respond to its key account clients. The company is ready to launch its valuation services in Brazil’s used car market, having initiated data extraction activities in April 2011.
Brazil affords strong commercial potential for autobiz, which already collects used car price data in 25 countries and is now ready to provide car valuation data and market analysis of transactions in this new market.
‘We launched this project exactly five years ago, and now we’re ready to offer the full range of our services to used car professionals. Car manufacturers and their dealership networks, used car dealers, insurers and automotive experts now have a powerful analytic tool at their disposal to aid in their decision making’, explained Emmanuel Labi, CEO of autobiz.
Due to Brazil’s financial crisis, local demand is focused primarily on late-model used car transactions. New car sales have declined significantly for the past three years: from 4 million new car sales in 2012, to 3.5 million in 2014 and only 2.6 million in 2015. In comparison, in the more stable used car market (almost 10 million sales in 2015), cars younger than four years old took off particularly quickly. Their sales increased by 23.8% during the first trimester of 2016, following an increase of 33.6% last year (4 million units in 2015).
Labi notes that, ‘Fiscal disincentives on consumer loans have encouraged buyers to gravitate towards the used car market. Depreciation is less of an issue, which means lower monthly repayment requirements’.
autobiz’s next developmental stage will involve deploying its decision-making management tool, autobizMarket, for the benefit of national dealers.
autobiz has also conducted data extraction for Brazil’s real estate market since 2014.